Masdar to go after large-scale PV projects in Asia via take care of Petronas

Mar 11, 2021 05:28 PM ET
  • Masdar has signed an arrangement with Malaysian state-owned energy firm Petronas to check out the growth of large-scale solar projects in Asia and the Middle East.
Masdar to go after large-scale PV projects in Asia via take care of Petronas
Image: Masdar

A brand-new memorandum of understanding will certainly see both companies interact to join solar as well as wind possibilities for utilities along with commercial and also commercial clients, with a key focus on the Asian market.

The collaboration will additionally check out opportunities for the joint manufacturing of green hydrogen. Petronas claimed it is pursuing business production of green hydrogen "in the near future".

Mentioning the tie-up, Petronas CEO Tengku Muhammad Taufik Tengku Aziz claimed: "We expect powering extra services with cleaner energy services, leveraging on our respective geographical and also technological strengths to bring more lasting energy projects to fulfillment."

For Masdar, the offer comes as it looks at chances to increase its tidy energy portfolio in markets such as Malaysia, the Philippines, Thailand and Vietnam. The company is currently energetic in more than 30 countries and also has an operational or under-development tidy energy generating capability of greater than 10GW.

It lately established a joint endeavor (JV) with a subsidiary of Indonesia's state electrical power firm PT PLN for the growth of a 145MW floating solar project being created at a tank in Java. A Masdar exec lately told PV Tech that the company is wanting to keep its development in Southeast Asia through the formation of various other JVs.

Masdar CEO Mohamed Jameel Al Ramahi claimed the Petronas deal marks an "crucial action" in Masdar's journey to expand its visibility in Asia, where it sees "significant capacity" provided the region's financial development and also renewable energy sources.

"We anticipate working together with Petronas, a world leader in the energy industry and a firm dedicated to sustainable growth, to fulfill the expanding need for renewable energy solutions across the area," he stated.

Current growths in Southeast Asia's PV market have actually seen Indian solar business Fourth Partner Energy create a JV that will certainly develop business and also industrial solar projects in Indonesia, while Sunseap Group as well as utility Tenaga Nasional Berhad lately revealed a cooperation to transport sustainable electricity from Malaysia to Singapore.

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